Small Business Tax Planning

Effective planning of your tax affairs to help your business save money Every profitable business in the UK has to pay tax, but some small businesses pay more tax than is necessary. This book examines the tax liabilities that the owners or managers of small businesses need to bear in mind and explains how to manage these tax requirements in the best possible way so as to avoid paying more tax than you have to. Uniquely, this guide traces how tax should be dealt with throughout the life-cycle of a business, from start-up to the time it is sold, wound up, or passed on, so that whatever stage your business is at this book will be valuable for you. Areas that are covered include: - What business structure you should choose when starting out: self-employed sole trader, partnership or limited company. - How to register your business and when to start paying tax. - When tax inspections might arise and how to deal with them. - How to manage business expenses effectively and make use of relevant tax benefits. - How to withdraw from a business and pass it on, or how to go about selling it. Guidance about tax is spread over many different locations; on the internet, in booklets provided by HMRC, and in magazines and annual publications. Russell Cockburn brings the information together in this simple and incisive summary enabling you to approach your tax affairs as efficiently as possible.

"When you're setting up a business often the last thing you're thinking about is paying tax - you'e more concerned with making some money first! Not necessarily the best way to go, but a fact of life. This fab book allows you to dip in and out of it as the need arises and alerts you to pitfalls before you fall into them.

It's written in an easy flowing language which is unusual for such a dry subject. I regularly use it to check I'm on the right track, follow up references and now I'm a bit more organised for future tax planning. It's good for interpreting what my accountant has said too - you know what it's like when you come out thinking you've understood everything when you're in the meeting and forgotten 95% by the time you've left it!

Great book at a bargain price."   

S Burgess

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